Exodus Movement, Inc. (NYSE American: Exod) is a leading independent Bitcoin and cryptocurrency platform that released unaudited financial results for the first quarter of 2025, showing significant increases in record-setting revenues and digital asset holdings.
Still at its first quarter's strongest, Exodus reported revenue of $36 million, up 24% from $29.1 million in the first quarter. The company attributed it to continued product innovation and demand for self-compromising solutions. “Exodus continues to provide innovative solutions that leverage the growing market for digital assets,” said JP Richardson, CEO and co-founder. “On the other hand, our focus on independence makes a difference.”
In addition to the revenue milestone, the company currently holds 2,011 BTC. According to first quarter filing, there has been an increase of 70 BTC since December 31, 2024. Bitcoin holdings account for the majority of $238.0 million in digital assets and cash. The company also puts the $4.9 million ETH of 2,693 people at $62.8 million on US dollar coins and Treasury bills.
Exodus $exod reported holding 2,011 BTC in Q1 filing. +70 BTC After December 31, 2024. pic.twitter.com/6qdusgir2e
-nlnica (@btcnnlnica) May 12, 2025
Despite declining user activity, active users fell by 30% to 1.6 million. The exchanges processed in the first quarter totaled $2.18 billion.
Costs rose significantly, up 39% to $14.9 million in technology, development and user support, and general and administrative costs increased 79% to $14.3 million. Exodus recorded a net loss of $12.9 million compared to net income of $54.8 million in the first quarter of 2024. This is primarily due to a loss of $28.8 million on digital assets.
Still, Exodus' leadership is optimistic. “In the first quarter, we had our highest first quarter revenue and our second best revenue quarter,” said CFO James Gernetzke. “With the abundant opportunities at our gateway, Exodus is suitable for expanding in the future, within and beyond our industry.”
A webcast discussing the results of the first quarter will take place on May 12th at 4:30pm and is available at exodus.com/investors.
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